Chung Wu Investment Group LLC Invests $74,000 in Cameco Corporation $CCJ

Chung Wu Investment Group LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,000 shares of the basic materials company’s stock, valued at approximately $74,000.

Other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC boosted its position in shares of Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Dagco Inc. bought a new position in Cameco during the 1st quarter valued at about $28,000. SVB Wealth LLC purchased a new stake in shares of Cameco during the 1st quarter valued at about $29,000. Trust Co. of Vermont grew its stake in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 350 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Cameco during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ opened at $84.33 on Monday. The business has a 50-day simple moving average of $78.70 and a two-hundred day simple moving average of $64.50. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $89.13. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of 96.93 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $467.72 million during the quarter, compared to the consensus estimate of $819.79 million. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue was up 46.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several research reports. Glj Research restated a “buy” rating and issued a $75.27 target price on shares of Cameco in a report on Thursday, June 12th. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Wall Street Zen upgraded Cameco from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group set a $102.00 target price on Cameco in a report on Tuesday, September 9th. Finally, The Goldman Sachs Group boosted their price target on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and an average price target of $89.55.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.